What is blockchain and how can it impact your company?
Blockchain. It seems as though the technology is appearing across a wide range of industries. Streaming media, finance, defense, manufacturing, aerospace, shipping, accounting: the list goes on and on. But what exactly is blockchain and how will it impact your company in the upcoming years? Here's a quick overview to help get you started. In its most essential form, blockchain is a digital secure ledger system that is very resistant to tampering. It was originally used for fi
Accounting Terminology 101: An Introduction to Accounting Jargon
hen you're getting your feet wet with business accounting, there are a lot of terms that are tossed around that can be confusing if you're not sure what they mean. Here's a quick primer to help get you started. Accounts Receivable: Money that is owed to you by your customers. Accounts Payable: Money that you owe to outside vendors and expenses. Assets: Everything that your business owns. Though it's typically physical assets, there are also intangible assets such as stock and
Papers Please! Your Tax Information Checklist to Make the Process Easier
If there's one thing that's certain in life, it's that tax time is stressful. You have a whole dictionary of form numbers, acronyms and other tax-specific information to process, as well as a wide range of other information and documents you'll need to get the job done right. Fortunately, we've developed a handy checklist to help make the process go more easily. Identification: You'll need full names, social security numbers and the address for family members who are being cl
How to Optimize Your Accounting Process to Lower Overhead
When you're trying to keep things moving at your business, the amount of work you spend on accounting can steal your time from your most productive tasks, lowering your profitability and raising your overhead. Here's a quick look at a few ways you can optimize your accounting process to get back to your most productive self. Keep it separated One of the most difficult things to figure out weeks or months after a project is which purchases are business related and which are pe
How can an accounting firm help you navigate changes in the tax code?
Every time the tax code changes, business owners are concerned how new tax laws will impact their bottom line. The latest round of tax code changes are especially difficult, because they have such a broad, sweeping impact on what accounting and financial tactics a business uses. Here's why it's important to have an accounting advisor help you navigate the many changes in the new tax laws. Deductions, pass-throughs and tax brackets, oh my! If you're confused over the new tax l
Plan to Have a Plan: Creating Your Five-Year Business Goals
When you created your original business plan, how far into the future did you extend that plan? Though it's easy to get caught in the daily grind of your business, long-term goals and advanced planning are important to keeping your company on track and in the right direction instead of just spinning its wheels. Here's how to determine your five-year business goals and break those goals down into attainable steps. Where is your business right now? How does that compare to wher
Does Your Business Have an Emergency Response Plan?
Tornados. Earthquakes. Wild fires. Flooding. When it comes to natural disasters, there are a whole range of issues they can bring up that may impact your business. Unfortunately, research by FEMA has found that 40% of businesses never reopen after a disaster, and of the 60% that do, nearly half of those won't last over two years following the incident. How do you protect your company against this hazard? Business continuity planning. When you develop a business plan, you need
